Paxton Inc. just paid out a per-share dividend of $3.15 on its common stock. The dividend is expected to increase at a rate of 15% for the coming five years. After that, the growth in per-share dividends will drop to a rate of 2.5% for the foreseeable future. Investors in Paxton common stock require a return of 8.50%. The discounted value at the end of five years of all expected dividends to come after year 5 is?